Advisors budgeting resources for their practices in 2021 should make marketing and business development compliance a top priority. Several changes are expected this year and RIAs will be well-served to focus on the new and evolving regulatory requirements. The most significant is the new SEC Marketing Rule, which will modernize the industry’s marketing rules for a digital age but also usher in fresh scrutiny. To guide you, I’ve compiled a checklist of seven practical tips that you and your team can print off and refer to. Take a moment to review them to be prepared compliance-wise for 2021 and beyond.
Despite the COVID-19 global pandemic, regulatory examinations continue as normal. There’s one caveat though: the scope of examinations have increased. Regulators are trying to understand how firms manage business and core compliance programs within this environment. Below are 3 specific ways to test your compliance program and prepare for these regulatory exams:
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It’s that time of year again - time to prepare for your annual Form ADV Review. Disclosures to clients and prospects are even more important this year in light of new requirements announced last summer. This is arguably the most important compliance project for the quarter.
This year the SEC provided a steady stream of guidance illustrating which compliance and governance programs worked and which ones fell short. To help you plan for 2020, we have distilled the highlights in this Regulatory Year in Review. As you study enforcement cases, rule proposals and risk alerts, you’ll see there are trends for RIAs to consider in the year ahead.
Compliance norms change constantly. They change as business innovates and regulatory priorities and leadership shifts. Summer 2019 was rife with developments advisors should understand and then consider the 3 action steps below: